Twitter buys mobile ads company MoPub for $350 million

SAN FRANCISCO (Reuters) - Twitter has bought online mobile-ad exchange MoPub, the company said in a blog post Monday.

The San Francisco-based companies did not disclose terms, but a person familiar with the matter said Twitter paid $350 million in stock for MoPub.

The deal has built-in upside for the sellers as it assigned a value of around $20 to Twitter shares, when in fact the microblogging service's shares are trading in the high $20s on the secondary market, the person said.

MoPub allows companies to keep track of ad inventory in real time, similar to what Google can do with DoubleClick.